Money-laundering probe into alleged investor fraud and housing licence forged documents allowed; SLP against 'proceeds of crime' ruling withdrawn. An accused sought leave to withdraw an SLP challenging an HC ruling under the PMLA concerning 'proceeds of crime' arising from alleged investor fraud and ...
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Money-laundering probe into alleged investor fraud and housing licence forged documents allowed; SLP against "proceeds of crime" ruling withdrawn.
An accused sought leave to withdraw an SLP challenging an HC ruling under the PMLA concerning "proceeds of crime" arising from alleged investor fraud and procurement of a housing licence on forged documents. The HC had held that prosecution for money-laundering can proceed even if a person is not named as an accused in a scheduled-offence FIR, so long as a scheduled offence exists, and that multiple FIRs could sustain an inference that proceeds of crime cannot be ruled out; consequently, it could not be concluded that no PMLA offence was made out. Before the SC, the SLP was dismissed as withdrawn.
Permission was sought to withdraw the special leave petition. "In view of the statement made, the special leave petition is dismissed as withdrawn." The Court further clarified the legal effect of the withdrawal on the underlying decision: "the observations made in the impugned judgment will not be treated as binding findings on merits."
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